PHAROL, SGPS, S.A.

Regulatory Filings • Jan 16, 2021

Announcement | Lisbon | 16 January 2021

Notice to the Market disclosed by Oi

PHAROL, SGPS S.A. hereby informs on the Notice to the Market disclosed by Oi, S.A., according to the company's announcement attached hereto.

Oi S.A. – In Judicial Reorganization Corporate Taxpayers' Registry (CNPJ/MF) No.76.535.764/0001-43 Board of Trade (NIRE) No. 33.3.0029520-8 Publicly-Held Company

NOTICE TO SHAREHOLDERS

Oi S.A. – In Judicial Reorganization ("Oi" or the "Company"), in order to comply with the provisions of paragraph 2, article 21-L of CVM Instruction No. 481/09, as amended, informs its shareholders that the Company's Ordinary General Shareholders' Meeting will be held on April 30, 2021.

Additional information concerning this meeting will be disclosed in accordance with the time periods established by the applicable laws and regulations.

Rio de Janeiro, January 15, 2021.

Oi S.A. – In Judicial Reorganization Camille Loyo Faria Chief Financial Officer and Investor Relations Director